Easy Office

Gift tax

This query is : Open 
Profile Image

Profile Image

(Querist)
23 July 2015 Sir, If a immovable property is received by a unregistered society as a gift by a unregistered trust, then in that case what are the tax obligation on society under section 56(2)(vii)
Profile Image

Rupesh Jain

Profile Image

Rupesh Jain (Expert)
23 July 2015 in case of recipient its applicable to individual or huf not on other .
Profile Image

CA Aneesh Jain

Profile Image

CA Aneesh Jain (Expert)
23 July 2015 It will be taxable as section 56(2)vii is applicable on individual and huf only.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Anurag Kedia

Profile Image

Anurag Kedia (Querist)
23 July 2015 Thank for the kind reply but as society is not treated as individual in that case we can avoid gift tax

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


easyoffice CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links